Global Data Pod

J.P. Morgan Global Research recently launched the Industry and Policy Thematics group. The aim of this group is to provide timely analysis of economy-wide industry and policy topics, including issues related to security and resilience.

In this episode we discuss the group’s inaugural report on Rare Earths, we discuss the rare earth supply chain, why rare earths are critical, common myths, and the potential US playbook going forward.
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Featuring Jahangir Aziz, Co-Head of Economic Research and Head of Industry & Policy Thematics, and Samantha Azzarello, Head of Content Strategy.

 

This podcast was recorded on February 25, 2026.

 

This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5211349-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

The year is starting with solid global momentum. Fading caution, firming in employment, signs of a broadening in non-tech related capex are prompting a bounce in industry—underscored by this week’s strong February flash PMIs. While the SCOTUS overturning of US IEEPA tariffs lays down some guardrails, we do not see it materially altering the US war on trade in aggregate. Resilient growth combined with elevated inflation make market pricing for Fed cuts in 2H26 increasingly untenable.

 

Speakers:

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on 20 February 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

There are significant elements of noise in this week’s key reports but we feel there is enough signal in these readings to increase confidence that recoupling is taking hold that lifts hiring this quarter even as consumer spending slows. US inflation data follows a similar pattern, with the underlying signal pointing to somewhat less firming than incorporated in our forecast.

Speakers: 

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on February 13, 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Fading caution that leads to firming global labor markets is the central rotation to keep the expansion going—away from balance sheets last year and toward labor income–driven consumer spending this year. Job market performance will also be central to presumptive Fed Chair Warsh’s ability to either deliver cuts or be stymied by a more cautious FOMC. Given the upward pressures on inflation in 1H26, inflation is less likely to be an x-factor pointing to lower Fed rates.

 

Speakers: 

Bruce Kasman

Joseph Lupton

 

This podcast was recorded on 6 February 2026.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party.

Nora Szentivanyi is joined by Raphael Brun-Aguerre and Michael Hanson to discuss the latest global inflation developments. While fading last quarter’s slide in core CPI inflation, a phase of sticky inflation reflecting common global dynamics looks to be ending and will give way to more disparate 2026 outcomes. US inflation is expected to accelerate above 3%oya as an early-year rebound combines with persistent goods price pressures. At the same time, declining goods prices and moderating wage pressures should push Euro area inflation down further to 1.9% . Early 2026 signals, including the flash Euro area HICP for January and US price surveys, lend support to our views.

 

This podcast was recorded on 04 February 2026.

 

This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5185055-0, https://www.jpmm.com/research/content/GPS-5167500-0, https://www.jpmm.com/research/content/GPS-5196570-0, https://www.jpmm.com/research/content/GPS-5174882-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures.

© 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party